European Payment Initiative
The European Payments Initiative (EPI) is an initiative backed by 16 European banks and merchant service providers to progressively build a payment solution tailored for Europe. EPI leverages the instant account-to-account payments infrastructure available in Europe to improve efficiency and remove intermediaries in the payment flow. It aims at enabling the next-generation payments for consumers and merchants in Europe across all types of retail transactions via a wallet. EPI will initially support person-to-person (P2P) and person-to-professional (P2Pro) payments, followed by online and mobile shopping payments and then point-of-sale payments while combining them with attractive value-added services in the future.
